SLF vs. RY
SLF (Sun Life Financial Inc.) and RY (Royal Bank of Canada) are both stocks. Both are in the Financial Services sector — SLF in Insurance - Diversified, RY in Banks - Diversified. Over the past 10 years, SLF returned 13.18%/yr vs 17.18%/yr for RY. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
SLF vs. RY - Performance Comparison
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Returns By Period
In the year-to-date period, SLF achieves a 25.30% return, which is significantly higher than RY's 18.68% return. Over the past 10 years, SLF has underperformed RY with an annualized return of 13.18%, while RY has yielded a comparatively higher 17.18% annualized return.
SLF
- 1D
- 1.05%
- 1M
- 7.59%
- YTD
- 25.30%
- 6M
- 29.43%
- 1Y
- 24.27%
- 3Y*
- 19.96%
- 5Y*
- 12.61%
- 10Y*
- 13.18%
RY
- 1D
- 0.14%
- 1M
- 8.80%
- YTD
- 18.68%
- 6M
- 21.99%
- 1Y
- 60.93%
- 3Y*
- 33.55%
- 5Y*
- 18.33%
- 10Y*
- 17.18%
SLF vs. RY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLF Sun Life Financial Inc. | 25.30% | 9.72% | 19.48% | 17.77% | -12.89% | 29.71% | 1.55% | 42.69% | -16.37% | 11.18% |
RY Royal Bank of Canada | 18.68% | 46.29% | 23.80% | 12.72% | -8.00% | 34.11% | 8.42% | 20.17% | -12.88% | 24.95% |
Correlation
The correlation between SLF and RY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2000 | 0.62 |
The correlation between SLF and RY shifts across timeframes, from 0.45 (1 year) to 0.69 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SLF:
$30.85B
RY:
$205.02B
SLF:
CA$6.22
RY:
CA$18.17
SLF:
17.21
RY:
15.35
SLF:
1.43
RY:
2.45
SLF:
1.89
RY:
2.21
SLF:
CA$39.40B
RY:
CA$138.99B
SLF:
CA$20.48B
RY:
CA$65.64B
SLF:
CA$4.74B
RY:
CA$30.01B
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Return for Risk
SLF vs. RY — Risk / Return Rank
SLF
RY
SLF vs. RY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sun Life Financial Inc. (SLF) and Royal Bank of Canada (RY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SLF | RY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.70 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 5.97 | -4.42 |
| Martin ratioReturn relative to average drawdown | 3.34 | 22.22 | -18.87 |
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Drawdowns
SLF vs. RY - Drawdown Comparison
The maximum SLF drawdown since its inception was -78.60%, which is greater than RY's maximum drawdown of -62.90%. Use the drawdown chart below to compare losses from any high point for SLF and RY.
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Drawdown Indicators
| SLF | RY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.60% | -62.90% | -15.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.91% | -10.04% | -4.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.91% | -19.88% | +4.97% |
Max Drawdown (5Y)Largest decline over 5 years | -30.77% | -28.36% | -2.41% |
Max Drawdown (10Y)Largest decline over 10 years | -50.84% | -39.95% | -10.89% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -16.86% | -9.32% | -7.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.90% | 2.69% | +4.21% |
Volatility
SLF vs. RY - Volatility Comparison
Sun Life Financial Inc. (SLF) has a higher volatility of 4.82% compared to Royal Bank of Canada (RY) at 4.01%. This indicates that SLF's price experiences larger fluctuations and is considered to be riskier than RY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLF | RY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 4.01% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 11.34% | +2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.20% | 15.10% | +5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.44% | 18.00% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.88% | 19.76% | +3.12% |
Dividends
SLF vs. RY - Dividend Comparison
SLF's dividend yield for the trailing twelve months is around 3.47%, more than RY's 2.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RY Royal Bank of Canada | 2.32% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
SLF Sun Life Financial Inc. | 3.47% | 4.03% | 4.00% | 4.98% | 4.59% | 3.32% | 3.69% | 3.47% | 4.71% | 3.17% | 3.98% | 4.64% |
Financials
SLF vs. RY - Financials Comparison
This section allows you to compare key financial metrics between Sun Life Financial Inc. and Royal Bank of Canada. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
SLF vs. RY - Profitability Comparison
SLF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sun Life Financial Inc. reported a gross profit of 8.88B and revenue of 8.88B. Therefore, the gross margin over that period was 100.0%.
RY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a gross profit of 16.51B and revenue of 33.93B. Therefore, the gross margin over that period was 48.7%.
SLF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sun Life Financial Inc. reported an operating income of 633.63M and revenue of 8.88B, resulting in an operating margin of 7.1%.
RY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported an operating income of 7.10B and revenue of 33.93B, resulting in an operating margin of 20.9%.
SLF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sun Life Financial Inc. reported a net income of 537.39M and revenue of 8.88B, resulting in a net margin of 6.1%.
RY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Royal Bank of Canada reported a net income of 5.51B and revenue of 33.93B, resulting in a net margin of 16.2%.
Frequently Asked Questions
SLF and RY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLF has higher volatility (4.82%) compared to RY (4.01%). In terms of maximum drawdown, SLF dropped -78.60% vs RY's -62.90%.
RY currently has the higher Sharpe Ratio (3.97 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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